State Revenues Slower then Expected

State Revenues Slower then Expected Created by djackson on 10/14/2013 11:32:57 AM

INDIANAPOLIS (AP): State revenues that are coming in less than expected have budget officials telling agency chiefs to cut spending.

The Munster Times reported yesterday the heads of the Office of Management and Budget and the State Budget Agency recently sent a memo outlining some of the ways that agencies can reduce spending to help preserve the state's $2 billion budget reserve.

Through the first three months of the current state fiscal year, revenues have come in $73.5 million less than predicted by the revenue forecast used by lawmakers in writing the 2014 through 2015 state budget.